The United Nations Environment Programme (UNEP) Inquiry into the Design of a Sustainable Financial System initiative published a new report entitled Building a Sustainable Financial System in the European Union.
Building a sustainable financial system in the European Union can support long-term economic and environmental goals, boost international competitiveness, and advance the EU’s strategic role in international cooperation for financial system development.
European financial institutions have often been at the vanguard of initiatives across banking, capital markets, insurance and investment. The EU has also been the source of innovations in thinking around green bonds and climate risk. And a growing number of member states, such as France, the Netherlands, Sweden, the UK and others are taking policy actions to support market and social innovation. This is matched by growing momentum at the Union level, including a focus within the Juncker Plan and efforts to promote long-term responsible investment. Internationally, the agenda is moving ahead with China’s decision to make green finance a theme of this year’s G20. As a result, there is now an important opportunity to develop an EU Strategy for Sustainable Finance.
The report is available here.